Lead Story Picture

Judge Says Banks Must Face US-Based Forex Rigging Claims

A federal judge in New York on Wednesday denied a motion to dismiss a U.S.-based class action alleging that Bank of America Corp., Barclays PLC and other banks rigged foreign exchange markets.

  • Fraud Suits Targeting Sanofi Over MS Drug Prospects Tossed

    A Manhattan federal judge on Tuesday threw out an investor class action and a related securities fraud damages suit against Sanofi over a 2013 setback in its effort alongside recently acquired Genzyme Corp. to win approval for their Lemtrada multiple sclerosis drug, finding rosy statements predicting on-time approval were genuinely believed when they were made.

  • BREAKING: Faruqi Co-Founders Off Hook In Sex Assault Trial

    A New York federal judge narrowed a lawsuit Wednesday brought by an ex-Faruqi & Faruqi LLP associate allegedly sexually assaulted by partner Juan Monteverde, letting the firm's co-founders off the hook but allowing hostile work environment allegations against Monteverde and the firm to move forward.

  • Shake Shack Boosts IPO Amid Strong Investor Appetites

    New York-based Shake Shack Inc. plans to serve up a larger initial public offering, boosting its per-share price on Wednesday to land as much as $95 million amid investor hunger for the growing fast-casual, ingredient-conscious hot dog and burger chain.

  • DOJ, States Near $1.38B Accord With S&P

    Standard & Poor’s Ratings Services has agreed to pay $1.375 billion to settle lawsuits brought by the U.S. Department of Justice and 20 attorneys general around the country over the firm’s ratings work leading up to the financial crisis, a person familiar with the matter on Wednesday told Law360.

  • Reynolds' $27B Lorillard Takeover Gets Shareholder Approval

    The tie-up of America’s second and third largest tobacco companies is one step closer as shareholders of both companies approved Camel cigarettes maker Reynolds American Inc.’s proposed $27.4 billion takeover of rival Lorillard Inc., maker of Newport cigarettes, the companies said Wednesday in separate statements.